The sugar refinery has been especially successful, and 70% of the sugar used in Nigeria’s beverage and candy business comes from The Dangote Group. It is the largest sugar refinery in Africa and the third largest in the world. He also controls a large portion of Nigeria’s export of cocoa, sesame seeds, ginger, cotton, and cashews. In addition to his food and cement-related ventures, he has also poured money in to real estate, textiles, transport (he manages the Central Bank of Nigeria’s fleet of busses, for example), and telecommunications. He is currently in the process of laying nearly 8700 miles of fiber optic cable across Nigeria. He has created so many new jobs in Nigeria, that he has received multiple honors from Nigerian business associations and the government, including the Grand Commander of the Order of the Niger presented by the President of Nigeria. It is the second highest award that can be given to a Nigerian.
How powerful and important is Aliko? Put it this way, when Bill Gates travels to Africa, he stays with Aliko Dagnote. The two are very close friends are are working on several projects to address poverty and disease in Africa. When Aliko talks, Bill listens.
He’s not one to rest on his laurels, however, and he is only now embarking on his grandest plan for Nigeria – to make it an oil powerhouse. He has negotiated massive and unprecedented loans from Nigeria’s banks, amassing over $3 billion in loan money. (At interest rates lower than those offered to the government, no less!)
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